카타르 LNG 신조 프로젝트, 철판 가격 상승으로 난항

Qatari LNG carrier newbuilding tender

battered by steel price rises

 

Photo from Reuters

 

요약: 카타르의 LNG 선박 신조 입찰이 최근의 철강 가격 폭등으로 인한 신조 선가 상승으로 큰 타격을 맞았다. 현재 LNG 선박 신조 가격 수준은 척당 약 USD 200 mil. 으로, 카타르가스에서 처음 조선소들과 협상을 시작했을 때에 비해 약 USD 20 mil. 정도 올랐다. 현재 카타르가스는 한국의 Big 3 조선소와 중국 조선소에 151개의 slots 을 예약해두었다.

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Summary: Qatari LNG newbuilding tender with shipyards and operators may fall apart due to the steep increase of the steel price, making the newbuilding price close to $200 mil., which increased about $20 mil. since the beginning of the discussion between Qatar Petroleum and shipyards. Qatargas reserved 151 slots in South Korea’s big three yards and a Chinese yard.

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Qatar’s huge slot agreement on more than 150 LNG carrier berths has fallen foul of the steel price hike as the cost of newbuildings has climbed by over $30m a ship.

Newbuilding brokers and owners told TradeWinds that Qatar Petroleum’s original deed of agreements with Hudong-Zhonghua Shipbuilding (Group) of China and South Korea’s big three yards — Daewoo Shipbuilding & Marine Engineering, Hyundai Heavy Industries and Samsung Heavy Industries — contains clauses covering the renegotiation of newbuilding prices if the material costs of vessels increased.

While Qatar Petroleum never revealed the exact price it had negotiated with the four shipbuilders, a statement following its agreement with Hudong-Zhonghua, which was announced in April 2020, indicated the vessels would cost in the region of $180m each.

Since then the cost of steel has shot up from about $700 per tonne to more than $1,000 per tonne — and yards have pushed up their newbuilding prices in response to this and the increasing demand for berths.

Brokers and owners are now pricing a “no frills” LNG carrier newbuilding at more than $210m based on recent quotations from South Korean yards.

But they pointed out that specifications can add up to $15m to the price, depending on whether the contracting party opts for additional features, such as on-board reliquefaction or a newer design of containment system.

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Disarray

One observer said the tender was now in “some disarray” as Qatargas, which is handling the process on behalf of compatriot producer Qatar Petroleum, discussed the price rises with shipbuilders.

The talks come at an important juncture as Qatargas prepares to invite selected owners to submit commercial offers on the newbuildings this month.

Those following the tender process question whether some owners will still have the appetite to bid now, as the higher newbuilding prices and expected charter rates are likely to slim their margins.

It has also emerged that Qatargas has introduced various cancellation clauses into the proposed contracts with owners under which it could duck out of taking delivery of vessels.

Commentators said this will only increase the risk to owners.

Some 37 pre-qualified shipowners were invited to submit technical offers to Qatargas on the vast swathe of LNG newbuildings that Qatar requires for its liquefaction expansion and fleet replacement plans.

Owners are due to be shortlisted for the next stage of the tender process this month with a final shipowner selection due in September.

Owners would then be matched with one of the 151 slots that Qatar Petroleum has reserved or holds as an option at the four yards.

The first orders and time-charter contracts on newbuildings are expected to be concluded this year.(Copyright)

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Sources: https://www.tradewindsnews.com/gas/qatari-lng-carrier-newbuilding-tender-battered-by-steel-price-rises/2-1-1036484